GRAZ, Austria, January 16, 2017 /PRNewswire/ --
ARM founder Hermann Hauser invests via eQventure into the Austrian audio startup
The Austrian micro speaker pioneer USound (http://www.usound.com) secures a growth investment of 12 million Euro. Lead investor is eQventure, an Austrian venture capital firm based in Graz, who also brought in ARM founder Hermann Hauser as a USound angel investor. The investment qualifies as one of the biggest financing rounds for an Austrian startup these past years.
Double the team
The new capital will serve to accelerate organizational growth and to hire additional staff. "Several well-known hardware producers have expressed interest in our product. First customer orders have been booked. Our current priority is the serial production, and for this we aim to increase our personnel from roughly 30 engineers to almost 50," explains USound CEO Ferruccio Bottoni.
Smallest speaker in the world
In a project that stretched across several years, USound developed the smallest speaker in the world. It is now ready for market-entry and safeguarded by numerous patents. This first digital version of a micro speaker is based on innovative MEMS technology (Micro Electro Mechanical Systems) that enables the extreme miniaturization as well as highest levels of energy efficiency. The founders believe that the micro speakers can be deployed in a vast array of applications. "Headphones are only a starting point," reveals Bottoni, "our product is set to have an impact across all aspects of life as it enables a new paradigm for audio smart systems in portable devices."
Bottoni concludes: "With the fresh capital we can swiftly start mass production."
eQventure brings Hermann Hauser on board
The lead investor eQventure offers USound financing, support in corporate development and a worldwide business network. It was through their doing that Hermann Hauser could be won as an eQventure investor. The entrepreneur, venture capital investor and ARM founder Hauser contributes capital as well as strategic industry know-how. There are several reasons for why this undertaking is attractive to Hauser. "The company is led by an excellent management team with a wealth of experience and impressive track record in microsystem technology. I am convinced that USound can soon lead the billion dollar micro speaker market into the digital age."
USound GmbH is a fast growing audio start-up, founded with the mission of developing and producing the most advanced audio systems for mobile applications based on MEMS technology. The technological platform developed by USound is enabling the production of a revolutionary generation of MEMS micro speakers that are to be deployed in the world's top mobile applications. USound is a fabless company: process R&D and manufacturing operations are outsourced to world class industrial partners.
The entrepreneur and venture capital investor Hermann Hauser has been active in the global tech industry for more than four decades. One of his biggest successes is the British chip developer ARM, whose chip design is nowadays found in every smartphone. In September 2016 ARM was sold for 31,4 billion dollars to the Japanese tech giant Softbank.
eQventure is based in Graz (Austria) and offers young tech companies and small and medium sized enterprises (SMEs) financing, a strong business network and fast, dynamic support in all phases of corporate development. eQventure is driven by a group of successful entrepreneurs and angel investors.
Thomas Reiter, Reiter PR
SOURCE USound GmbH